Peabody and Family Mosaic have joined the growing band of housing associations to unveil mergers plans.
The new single housing association, which would still be called Peabody, would have a £6bn asset base to borrow against, providing 55,000 homes to 111,000 residents across London and the South East.
The boards of Peabody and Family Mosaic both believe that a merger would enable the larger group to access better resources and build more homes.
In a joint statement about the merger, Lord Kerslake, Chair of Peabody, and Ian Peters, Chair of Family Mosaic, said: “The new group would build on the track record, capabilities and shared values of Peabody and Family Mosaic to create a truly distinctive organisation.
“Our combined scale and London focus would enable us to do more together than we could achieve alone.”
The formal merger is expected to complete around July 2017.
from Construction Enquirer http://www.constructionenquirer.com/2016/12/07/peabody-and-family-mosaic-unveil-mega-merger-plan/
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